BURBANK, Calif. – May 25, 2016 – RISARC, a leading healthcare revenue cycle technology and consulting company, launched a new Accountable Care Organization (ACO) Management Platform that manages all aspects of an ACO program. The cost to the ACO is based solely on shared risk. As the ACO realizes financial goals and earns its share of Medicare Shared Savings Program (MSSP) payments for ACOs, RISARC receives its fees.
Last year, only 27 percent of industry ACOs were able to claim their share of the MSSP for accountable care organizations*. The 73 percent that could not meet MSSP benchmarks either did not meet performance requirements or lacked adequate reporting to demonstrate performance – sometimes both. To overcome this industry challenge, the RISARC ACO Management Platform guides ACOs through required program MSSP benchmarks via a data analytics platform. The cloud-based, HIPAA-compliant software automatically pulls CMS claims data and combines it with internal ACO records to manage populations, track individual patients, gauge program performance, produce CMS-required reports and show performance indicators in real-time.
“The ACO Management Platform was designed to give the ACO complete control and a real-time view of all factors that determine if their program is meeting goals and eligible for MSSP payments. If an ACO reduces spend and earns shared savings payout, we get a share of that and nothing more. That’s how confident we are that our ACO Management Platform will enable ACOs to meet benchmarks and get more of their share of MSSP payments,” says Richard Stephenson, RISARC founder and CEO.
Early adopters of the RISARC ACO Management Platform with its Data Analytics Dashboard are reporting increased efficiencies, better workflow and a level of transparency they could not duplicate with other systems. With the ability to track annual spend and readmissions, as well as GPRO reporting, risk assessment and more, ACOs now have a complete view of their ACO program to analyze performance against CMS benchmarks. This analysis enables better management of the ACO program and ultimately increased shared savings in the MSSP.
“As we strive to be the company of choice for clients and partners, and create exceptional opportunities for our employees, this new site supports our efforts by highlighting those characteristics that set us apart in our industry—our people, capabilities and commitment to our Core Values and Code of Conduct.”
The RISARC ACO Management Platform and Data Analytics Dashboard enables ACOs to manage:
- Attribution – Attributed patients to the ACO by CMS
- Risk – Detailing attributed patients level of risk
- Quality and GPRO reporting and performance –Ensuring accuracy and quality of data collected for reporting
- Electronic exchange of information – Secure electronic data and document exchange within ACO
- Performance with real-time views – Performance by ACO participating physicians
- EMR interfacing – Ability to interface with ACO participating physicians certified EMR’s
The RISARC ACO Management Platform also includes the ability to add a Chronic Care Management Program for increased share of payments. The ACO and individual physicians benefit with additional revenue and better patient outcomes, and the data can be fed into the platform for deeper analytics and a superior snapshot of an individual patient.
Request a no-obligation demo of RISARC ACO Management Platform and Data Analytics Dashboard.
RISARC is a 25-year-old technology and revenue recovery consulting firm to the healthcare industry. Its Triple Win approach combines shared-risk/reward, proprietary technology, and expert services that increase revenue, reduce costs and improve healthcare outcomes. This, combined with RISARC 360° Service™, creates a single-source solution that merges revenue cycle expertise with proprietary cloud-based technology. For more information visit www.risarc.com or follow RISARC on Facebook and Twitter. Phone: 818.953.3020